Developers close on new $23 million Eastrail Flats
Last week, MainStreet Property Group announced in a press release that they closed on a $23 million land acquisition contract in partnership with HAL Real Estate for a 4.25-acre property in downtown Woodinville.
The new mixed-use development, between Northeast 175th Street and Woodinville-Snohomish Road, will include 24,000 square feet of new retail space, 207 apartments and 63 townhomes. It also includes the extension of 133rd Avenue Northeast to Woodinville Snohomish Road.
The property is in the location of the former Woodgate Shopping Center. Last year, several local businesses were forced out to make way for the new development, including Indian Palace and Cookhouse, Teriyaki Bowl, Hacienda Guadalajara and J-Bro’s Gluten-Free Market.
MainStreet and HAL also partnered to develop the Schoolhouse District in downtown Woodinville, which was completed in 2021.
The Eastrail Flats development, which includes the new apartments and retail space, will begin construction early this year. The release states that 21 of the 207 new apartments will be subsidized for affordable housing.
It also states that the developers have received land use approval for the 63 townhome units, but did not specify when construction will begin.
According to State Environmental Policy Act (SEPA) documents submitted by MainStreet, an estimated 300-500 people will reside in the completed development.
The buildings will be LEED Platinum certified.
About half of the retail space has already been leased out.
Other amenities will include a butterfly habitat on the rooftop, a fitness center with private studios and an indoor/outdoor pet wash and lounge area.
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